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Abstract

Taking the Railroads Out of Wall Street

Barnum, R. L. | June 1, 1918 issue

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The article discusses the U.S. railroad administration. Two revolutionary steps have been taken by the U.S. Government in handling the railway situation. First, the Director-General approved in one lump sum, improvement and betterment expenditures aggregating U.S. $937,000,000. Next, all of the railroad presidents in the country were discharged by giving out one blanket order, which went first, not to the railway executives themselves, but to the Washington newspaper correspondents. Railroad presidents receiving U.S. $50,000, $75,000, or even U.S. $100,000 a year learned of their dismissal at their breakfast table in the headlines of their favorite morning paper.

See Also:

RAILROADS -- Economics of construction; TRANSPORTATION; COMMUNICATION & traffic; PUBLIC utilities; INTERSTATE commerce; UNITED States

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H.L. Mencken, "An Eminent American," July 11, 1923.

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